Snyder Capital Management, San Francisco, started a midcapitalization value equity strategy, landing an institutional client and $50 million, said Walter Niemasik Jr., vice president.
Snyder will market the strategy only for separate accounts with a $25 million minimum. It will target stocks in the $750 million to $10 billion market-value range.
It will use fundamental technique similar to its existing small-cap value style, which has $1 billion under management.
Snyder also reduced the market-value range for its small-cap portfolio, which now will be from $100 million to $1 billion, from the previous $200 million to $2 billion. Mr. Niemasik said the change won't affect investments because almost all of the small-cap stocks in the portfolio were less than $1 billion anyway.
